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On May 9, 2023, Arbitrum, an Ethereum-based layer-2-blockchain, tweeted that it will share Ether with its decentralised autonomous organization (DAO), which has a worth of about $6.2 million, stated Cointelegraph. It is expected that ARB owners need to collect the rewards.

Sources revealed that the funds acquired will include the extra revenue made from the transactions made through the network and will also include the base fees. It is expected that about 3,352 ETH will be collected by its DAO, added Cointelegraph.

As reported by Cointelegraph, the price of sharing ETH on Arbitrum is about $0.25 and exchanging tokens is about $0.68. Reportedly, Arbitrums users paid $387,423 as fees over the last seven days, Cointelegraph highlighted.

Arbitrum has mentioned that this new strategy will align community incentives and give ARB a purpose beyond a worthless governance token. Furthermore, only a few supported this statement and some noted that this step might identify ARB tokens may serve for security purposes, Cointelegraph concluded.

(With insights from Cointelegraph)

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Arbitrum to acquire over 3,350 Ethereum as transaction fees revenue - The Financial Express